In addition, there is a new Pet Battle achievement, Fabled Pandaren Tamer, for defeating a new Elite Pet, and a new bag of pet supplies, Fabled Pandaren Pet Supplies. Elite pets are really tough pets, accessible via a quest, that are meant to be fought with your entire team.

So it sounds like the 4 pandas will work similar to the Pandaran Spirits. you beat the elite pet and get to choose one, and then you can do a daily for a chance to get another one in the special bag...

I hope the new Raid pets drop in LFR. I'll be pissed if they don't as I just stopped raiding this Xpac for the first time since Vanilla.

"Even when you are winning soundly, you must always give your opponent a way to retreat with honor. If you don't, then he has no reason to surrender. He will fight until the bitter end, and you will pay a larger price for victory."

I also hope the pets in the raid are somehow simple to get, either inside or using LFR, as I have not even been doing the new dungeons let alone raids, since there is so much nice rep. gear and upgradable. Blizzard made the game fun again for individuals with this expansion.